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Paytm on June 17 announced the appointment of Rajeev Krishnamuralilal Agarwal as a non-executive independent director of company in a latest change to its board of directors.
Agarwal’s appointment takes effect immediately, the company said in a disclosure to the exchanges.
Additionally, the company’s board also accepted the resignation of Neeraj Arora as non-executive independent director on account of pre-occupation and other personal commitments.
Arora’s resignation will also take effect from closure of business hours on June 17, the release added.
Agarwal, an Engineering graduate from IIT-Roorkee, belongs to 1983 batch of Indian Revenue Service and has got wide experience of securities markets, commodity markets and taxation, according to a company press release.
Agarwal brings over four decades of experience in the stock market, including 28 years with the Indian Revenue Services. As a whole-time member of SEBI, he was instrumental in major market policy reforms, such as the revival package of MF industry in 2012, and the merger of the Forward Markets Commission with SEBI in 2015. He also spearheaded several IPO reforms aimed at enhancing transparency, initiated the offer for sale mechanism for PSU disinvestment and gave a boost to SME exchange which broadened capital-raising opportunities for small enterprises and startups, it added.
Currently, he is Chairman and Independent Director on the board of Trust Mutual Fund and Independent Director on the boards of ACC Ltd, Star Health Insurance, UGRO Capital Ltd and MK Ventures Capital Ltd.
His vast experience will significantly enhance the compliance and regulatory framework at OCL, Paytm said.
Vijay Shekhar Sharma, Founder & CEO of Paytm said, “I am very happy to welcome Rajeev Agarwal to the Paytm board. His expertise in regulatory and government-related matters will be an invaluable addition to our board. I would also like to express my gratitude to Neeraj Arora for his significant contributions, which have been instrumental in our company’s evolution. We remain committed to innovation and growth as we continue our efforts to serve our nation with financial inclusion.”
